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tv   Real Money With Ali Velshi  Al Jazeera  February 8, 2014 3:30am-4:01am EST

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muslim brotherhood, which are classified as a terrorist organization. abdullah al-shami has been in custody since last year. al jazeera rejects all the charges. >> a reminder that all our news can be found on the website >> get a leg up in the tough job market. three jobs that give you a bang for your buck. and a look at how the farm bill will happy a family's dairy business. why the next gold rush could take place in outer space. i'm ali velshi, this is "real money". conversation over the next half hour at @aj real money, and
3:31 am and real money. 113,000 net new jobs were added to the economy. that's a whole lot fewer than the average we saw for all of 2013. many economists say we need 113,000 a month just to keep up with the number of working age people enter the economy each other. more people reach working age each month, graduate from school, than retire or pass away. things started to go south just in december when we saw a mere 75,000 jobs added to the economy for that month. now back then i said wait until you see what happens in january. two months of disappointing data aren't enough to call a negative trend but they do have some of us worried. as much as of a glass half full guy as i am, this one is a tough one to be all that optimistic about. i always look for the good, and there is some in this report. an estimated 523,000 people
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entered the workforce in january. these are people who either found a job or actively looked for one during the month. that reverses the downward trend that we've been seeing in labor force participates. we still have a long way to go. in january, 63% of all americans who could be working were working or looking for a job. but that 63% is near historic lows, and it has not recovered from the beating it has taken since the recession. there are lots of arguments why that in is so low. they blame the drop off on bad weather. january's weather was no better. but if it was bad weather why didn't it stop the weather sensitive construction industry from adding 48,000 new jobs. other job winners including professional and business professional. that's the nation we've become, a service industry. among the job losers, retail trade. that's often happens in january,
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13,000 jobs lost. and just as significant if not more, the 12,000 federal jobs shed in january, 9,000 of them from the u.s. postal service alone. clearly there is something more going on than the weather. it's not clear if the slow pace of hiring will persist into 2004, but we'll be watching that closely in the oh coming months. there are 10 million officially unemployed workers in this country, but 4 million posted job openings. that's one job available for every two and a half people out of work. to further complicate things 60% of all new jobs require a bachelor's degree or higher. but only four in ten americans are college graduates. anthony, the director of the workforce at georgetown university, and he said be careful. all college degrees are not created equal. he chaired the national coalition under
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president clinton. good to join us. >> good to see. >> you how much of a problem of this persistent unemployment can be solved by people getting the right education. >> the central problem that you point to, there aren't enough jobs to go around, but we do know that a good 15% to 20% of people who get college degrees or post secondary education of any kind don't end up in jobs that pay more than high school, and at the same time we have a shortage of college workers. we're producing 1% increase per annum in college degrees, and the labor market is demanding 3% increase. we have a mismatched program. we're not producing enough, and the college degrees we're producing do not match the degrees available. >> this is important for parents of college kids, they're getting ready for admissions at the end of march. what you study makes a difference. i know you have pointed out for
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some time that probably one of the best things you can do, one of the best degrees you can get if you're so inclined to do it is a degree in petroleum engineering. you have statistics that indicate the medium salary is $120,000 for that job. that's gone up in the last few years, and they're projected to need 35,000 more of them betwe between 2012 and 2020. tell me what you think of this. >> the petroleum engineering is the top of the heap. it is not a large job sector. 35,000 is plenty of jobs, but compared to other job sectors like nursing, that is also robust. it pays to know what the relationship is between what you take, what area major is and what the job market wants. >> one of the things that you point out is pharmaceuticals with a median salary of
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$105,000, but a much bigger demand. we need 35,000 at the petroleum engineers over the next few years. and we need pharmacists. >> pa pharmacists and people who work in healthcare delivery institutions that deal with drugs. turns out that the other interesting thing about this profession is that it's very open to women. women are the majority now of the people who major in pharmacy in american colleges and universities. >> because a lot other women dominated professions including nursing and teaching, do not pay those kinds of wages . >> the college major market that is the majors that men and women take are highly segregated. 80% of the people who are in science, technology, engineering and mathematics are male.
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virtually about 70% of business majors except for people who major in hospitality that is people who end up working in hotels, they tend to be female. and education and counseling as well as the humanities, liberal arts are heavily female. >> let's talk about computer science, software engineers, petroleum engineers, coders as some people call them. people in this industry have a median salary of $100,000, and more than 1 million jobs required here. this a good bet? >> it's a good bet. one we see in this set of occupations now is we're beginning to see retirements, so a good third of the jobs will open up because people are retiring. two-thirds will be new jobs. >> let me ask you something, i think that i read this in something that you've written. we have to be careful about
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rushing into things that may be hot now and may not be hot later. architecture was a hot thing because there was a lot of building going on and people became architects but then building stopped for a while. do you see any of those circumstances here? >> i think as building mends we'll see more jobs for architects and civil engineers, for instance. those are people who got very good educations, had high s.a.t. scores, but they came up lame. there was almost no way to predict it unless you knew that the housing market and construction market was going to collapse. to matter what you do sometimes the economy will get you. >> anthony, good to talk to you as always. director of center of education in the workforce and a real expert in these matters. today on twitter and facebook i've been asking you some degrees offer a better return than others. if you could choose your major again what would you pick?
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matt said doing p.r. now, love it, but wish i knew more computer engineering and programming. >> in case congress didn't here in the first time, jack lew again warned that the government will not be able to pay its bills by the end of the month. lew said that the government will be unable to pay its months. the debt limit was suspended through today, february 7. february 8th it will be reset to its current level. the new farm bill is now law. we'll take you to the last working dairy barn in tecumseh, kansas.
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we have those stories and more as "real money" continues. keep it here. >> ...can invent , profit, and change the world. prizes could spur innovation in extrodanary ways... >> ex prize founder, peter diamandis talk to al jazeea on al jazeera america
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>> start with one issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to yourself? and you'll get... the inside story ray suarez hosts inside story weekdays at 5 eastern only on al jazeera america
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>> it was like you had to
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budget. i never thought it would be as hard as it was. >> the program is called daily by applicants like anderson trying to escape inflation, which has not been listed by five years. >> america deserves a raise. people, some of the politicians in washington, across an ideological spectrum, people understand you can't make ends meet and we should award hard work. >> advocates argue increasing the minimum wage to $10.10 would have positive knock-ons throughout the economy lifting wages across the scale. increasing output and creating 85,000 new jobs. president obama has turned up the pressure on congress using his executive powers to raise the minimum raise of contractors
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to $10.10 and praising retailers like costco. opponents argue hiking the minimum wage could harm small businesses and lead to job losses. >> also demand called commonsense saying the higher the price of anything, the less people take. it plied to workers -- applies to work. >> tenesha will work towards a better paid job while congress debate. >> president obama signed the farm bill into law. the bulk of this money in the $956 billion bill goes to the food stamp program. the bill congress agreed on cuts $8 billion in food stamp benefits. some republicans wanted to cut $40 billion. it changes the way the federal government subsidises farmers
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who do everything from grow crops to cattle. we explain what this means for the farmers. >> the biggest change for farmers is how they'll get government money. what is out - direct payments to farmers, whether they planted crops or not. >> uncle sam has been dolling out there 4.5 billion. what is taking its place is the federal government is expanding subsidised crop insurance to give them a cushion if they have a bad year. the cop is $125,000 for individual farmers in payment and loans. only the largest farms will be constrained by that. >> before the bill the farmer could receive $40,000 before running over any limits in the policy. other programs existed that have been eliminated that would allow for $65,000 more in support,
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additional payments. we are now at $125,000 limit, and that's a limit that is really targeted to what we had as a limit the last time. >> dairy farmers will see changes. what is ending for them is subsidies they get when milk prices fall below a certain mark. now they'll buy a new kind of subsidised insurance, and it will pay them if the profits wall, and if the cap falls between what they are paid for milk and meat. >> dairy farmers' struggles due to whether and feed prices, and we go to a family with evidence of that. drought conditions and financial problems forced a third generation farmer to cut his herd in 2012 and 2013. tim and his wife took out a loan to add a bottling plant to the operation. when they couldn't pay it back they filed for bankruptcy and the farm went into foreclosure.
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now things are looking up for the dairy. he joins us from his farm. thank you for being with us. i want to start, before tucking about the impact of the farm bill, i want to ask you how things are going on the farm? >> well, it's cold. but things are going better. we have got - the cows are milking well. we have extra milk on the tanker at a good price, and we have bottled milk going most of the time. the boiler is down. we are trying to repair that and get the bottling plant online. we'll be up and running. we'll see the good on both ends of the operation >> last night you were looking for an angel, you turned to crowd funding to keep your farm afloat. what did you do? >> we found or she found us an
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investor that basically paid off the bank and is refinancing us at this time. we are back up and running and are in the middle of a lot of paperwork. well, we never did stop running, we kept running. we are confident that the problem is 80% behind us and we are moving ahead >> part of the problem was cause you were trying to do better. you were a wholesale dairy farmer, you scaled back because you figured you could make more money selling bottling milk. is that where you want to go >>. >> yes, it is. we want to develop the operation to where we move a lot or all of our milk through a class bottle. putting milk on the tanker, more than we need for the bottles is good business right now.
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the dairy business is moving a lot of nonfat dry and dairy products to middle eastern countries in china, and that is bolstering our prices and feed costs are low. it's good now for dairy. >> 15% of u.s. dairy production last year was exported. you have been keeping an eye on the farm bill and the changes. mary did a good job of explaining it. it's hard to understand what this means to you as a farmer, the changes in the farm bill. what is your sense of it? >> well, there really was very little help from the government in the past. subsidies they paid us were ridiculously not helpful. the program looks like it could be helpful. we'll have to purchase margin insurance. the margin - the milk price over
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feed costs will be sassed by the usda, and if the margin falls too narrow, we'll have margin insurance that we purchased. so it's probably a good thing. we'll try to fit in with that, where we process part of the milk. we are producers, sips we produce i am sure we'll fit in. >> you are an optimistic guy. i'm glad things are looking up for you. >> forget mars or the moon, coming up i talk to an entrepreneur who tells us why man should go to an asteroid. his team is working on it. you're watching "real money". keep it here.
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>> innovators like peter aim to make the impossible possible. an harvard and mit entrepreneur who cofounded several space exploration companies including desire gravity corporation and planetary resources. i recently spoke with peter about his next venture, an out of this world effort to bring
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precious melts from space back to earth. listen. >> we are living in a world of amazing cognitive surplus. brilliant people who were never connected before. you could have a mozart, an eye stein who was born in a poor village in india and africa who would never rise because they were never discovered. now in a world where we're connected like this, those geniuses can be found, educated, can be brought to forefront of humanity. >> you are the world's not enough for you, it seems. for all that you do here a couple of years ago you got involved with planetary resource where is you're trying to find ways mine resources from astroids. >> millions of years from now whoever we are, whatever we are, wherever we are, we'll look back at these next few decades as the moment in time that the human
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race moved irreversebly off the planet. it's happening right now. amazing entrepreneurs pouring fortunes. >> these are all guys you have involvement with in these various projects. >> investors, supporters, board members and such. so the realization was always driven humanity to explore frontiers has been access for resources. the chinese silk road. the european settlers looking to the new world for gold and spices. the american settlers looking to the west for gold, timber and land. what are resources are in space that could drive man irreversebly to space. astroids come near to the earth, sometimes they hit us, and that's not a good thing but they're full of fuels, hydrogen and oxygen and platinum melts. the technology exists to find
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these, go out to them, plant a flag on them and exact materials for use on earth or in space. my co-founder erik anderson and i added a team out of jpl, the team had built spirit and curiosity , the rovers on mars right now, and we're building the technology to go out there and prospect these astroids. >> do these things make money or iare these things that rich people do. >> these are worth trillions of dollars. it's scarcity is contactual. it may be scarce on the earth's crust, but thinking about the new world, if you would, they are note scarce, they are reachable and extractible, and in success it will bring down the price of these melts that allow us to have these electronics whose batteries and all these technologies that we
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need. >> there is so much more to my interview it will air in full this sunday 7:00 p.m. eastern and 4:00 p.m. pacific on al jazeera america. go pro is taking the leap from private company to private market. they make the small durable video cameras that became a hit with extreme athletes when it launched in 2004. it's cameras are commonly used for action sports to capture firsthand look at the experience. the cameras attach to your head or body turning the athlete into a filmmaker . here's the interesting thing it took advantage of a provision in the 2012 jobs act which makes it easier for smaller start ups to go public. filing for the m pl without
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sharing it's information. if you work 40 hours a week and make the federal minimum wage you earn $290 a week. $1,275 a month, or just about $15,000 a year. that's $15,000. income inequality has reached crisis proportions in america. and in an effort to raise federal minimum wage to $10.10 an hour. today delta airlines agreed to raise the wages of 2,000 contract workers at jfk and laguardia airports, and it will wage the rates of $10 an hour. in another move, delta has greed to make martin luther king a paid holiday. now the workers affected are baggage handlers, the people who clean the aircraft, and this isn't a simple decision for the
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company it may cost delta shareholders or it may cost the traveling public, but we're giving these people $21,000 a year, just above the poverty line for a family of four. the prosperous nation on earth need to find a way four the least among us to live in dignity. the port authority has asked other airlines to do the same. and for tonight we thank delta for leading. that's our show. looking to find jobs in corporate america. i'm ali velshi, thanks for joining us. >> welcome to al jazeera america. i'm morgan radford. thousands of muslims fleeing the central african republic. thousands of lives have been taken on both sides.
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troops have set in to shuttle displaced muslims to safety. at one point a man who fell off of a crowded truck was hacked to pieces by a mod. the incident follows months of bloodshed. it's day two of a 3-day cease fire in the syrian city of homs. 80 people have been evacuated. women, children and the elderly are allowed to leave, and men between 15 and 55 are assumed to be fighters. aid workers say they are ready to take in a month's supply of food. >> president obama travelled to michigan to sign a farm bill, trimming funding for food stamps by 1% $8 billion over 10 years. republicans have been pushing for deeper cuts. >> family and friends gathered to say goodbye to philip seymour
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hoffman. cate blanchett, ethan hawk and others attended the seniors. he was found dead of a suspected heroin overdose. i'm morgan radford, thanks for watching. ♪ bing, bang, boom.